FXC vs. CRQ.NEO
FXC (Invesco CurrencyShares® Canadian Dollar Trust) and CRQ.NEO (iShares Canadian Fundamental Index ETF) are both exchange-traded funds - FXC is a Currency fund tracking the Canadian Dollar, while CRQ.NEO is a Canada Equities fund tracking the FTSE RAFI Canada Index. Both are passively managed. Over the past 10 years, FXC returned -0.15%/yr vs 12.72%/yr for CRQ.NEO. A 0.66 correlation means they provide meaningful diversification when combined. FXC charges 0.40%/yr vs 0.72%/yr for CRQ.NEO.
Performance
FXC vs. CRQ.NEO - Performance Comparison
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Different Trading Currencies
FXC is traded in USD, while CRQ.NEO is traded in CAD. To make them comparable, the CRQ.NEO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, FXC achieves a -0.74% return, which is significantly lower than CRQ.NEO's 15.42% return. Over the past 10 years, FXC has underperformed CRQ.NEO with an annualized return of -0.15%, while CRQ.NEO has yielded a comparatively higher 12.72% annualized return.
FXC
- 1D
- 0.01%
- 1M
- -1.76%
- YTD
- -0.74%
- 6M
- 1.05%
- 1Y
- -0.81%
- 3Y*
- 0.26%
- 5Y*
- -1.74%
- 10Y*
- -0.15%
CRQ.NEO
- 1D
- 1.48%
- 1M
- 2.10%
- YTD
- 15.42%
- 6M
- 20.83%
- 1Y
- 42.61%
- 3Y*
- 24.91%
- 5Y*
- 14.59%
- 10Y*
- 12.72%
FXC vs. CRQ.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXC Invesco CurrencyShares® Canadian Dollar Trust | -0.74% | 5.24% | -5.96% | 4.35% | -6.44% | 0.22% | 1.92% | 5.94% | -7.54% | 6.72% |
CRQ.NEO iShares Canadian Fundamental Index ETF | 15.42% | 38.19% | 12.52% | 12.26% | -5.86% | 34.94% | -0.78% | 25.64% | -17.16% | 14.36% |
Correlation
The correlation between FXC and CRQ.NEO is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since May 5, 2009 | 0.66 |
The correlation between FXC and CRQ.NEO shifts across timeframes, from 0.50 (1 year) to 0.68 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FXC vs. CRQ.NEO — Risk / Return Rank
FXC
CRQ.NEO
FXC vs. CRQ.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Canadian Dollar Trust (FXC) and iShares Canadian Fundamental Index ETF (CRQ.NEO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| FXC | CRQ.NEO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.18 | 3.71 | -3.89 |
Sortino ratioReturn per unit of downside risk | -0.24 | 5.15 | -5.39 |
Omega ratioGain probability vs. loss probability | 0.97 | 1.72 | -0.75 |
Calmar ratioReturn relative to maximum drawdown | -0.16 | 6.16 | -6.32 |
Martin ratioReturn relative to average drawdown | -0.32 | 26.09 | -26.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FXC | CRQ.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.18 | 3.71 | -3.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.28 | 0.91 | -1.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.02 | 0.65 | -0.67 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.05 | 0.48 | -0.53 |
Drawdowns
FXC vs. CRQ.NEO - Drawdown Comparison
The maximum FXC drawdown since its inception was -35.39%, smaller than the maximum CRQ.NEO drawdown of -47.39%. Use the drawdown chart below to compare losses from any high point for FXC and CRQ.NEO.
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Drawdown Indicators
| FXC | CRQ.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.39% | -47.39% | +12.00% |
Max Drawdown (1Y)Largest decline over 1 year | -3.78% | -7.13% | +3.35% |
Max Drawdown (3Y)Largest decline over 3 years | -7.34% | -12.70% | +5.36% |
Max Drawdown (5Y)Largest decline over 5 years | -13.53% | -23.53% | +10.00% |
Max Drawdown (10Y)Largest decline over 10 years | -15.46% | -47.39% | +31.93% |
Current DrawdownCurrent decline from peak | -28.56% | -0.07% | -28.49% |
Average DrawdownAverage peak-to-trough decline | -19.91% | -9.86% | -10.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 1.68% | +0.30% |
Volatility
FXC vs. CRQ.NEO - Volatility Comparison
The current volatility for Invesco CurrencyShares® Canadian Dollar Trust (FXC) is 0.69%, while iShares Canadian Fundamental Index ETF (CRQ.NEO) has a volatility of 3.08%. This indicates that FXC experiences smaller price fluctuations and is considered to be less risky than CRQ.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXC | CRQ.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.69% | 3.08% | -2.39% |
Volatility (6M)Calculated over the trailing 6-month period | 3.25% | 9.26% | -6.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.49% | 11.57% | -7.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.37% | 16.09% | -9.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.66% | 19.79% | -13.13% |
FXC vs. CRQ.NEO - Expense Ratio Comparison
FXC has a 0.40% expense ratio, which is lower than CRQ.NEO's 0.72% expense ratio.
Dividends
FXC vs. CRQ.NEO - Dividend Comparison
FXC's dividend yield for the trailing twelve months is around 0.26%, less than CRQ.NEO's 1.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRQ.NEO iShares Canadian Fundamental Index ETF | 1.89% | 2.18% | 2.72% | 2.97% | 2.90% | 2.17% | 2.98% | 2.71% | 2.46% | 1.91% | 1.89% | 3.09% |
FXC Invesco CurrencyShares® Canadian Dollar Trust | 0.26% | 0.55% | 2.23% | 2.01% | 0.31% | 0.00% | 0.19% | 0.75% | 0.42% | 0.02% | 0.00% | 0.02% |
Frequently Asked Questions
FXC and CRQ.NEO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FXC is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FXC is cheaper with a 0.40% expense ratio, compared with 0.72% for CRQ.NEO.
FXC is categorized as Currency, while CRQ.NEO is Canada Equities. FXC tracks Canadian Dollar, while CRQ.NEO tracks FTSE RAFI Canada Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.40% for FXC and 0.72% for CRQ.NEO.
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